Meta Platforms, Inc. vs SAP SE, two Software stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Meta's balance sheet holds a quarter turn of debt against equity and 2.35 dollars current for every dollar due; SAP carries no debt at all. Fortress meets fortress, so the prices are about the income statements, and there the gap is stark: Meta earns a 40.6% operating margin and 36.9% net against SAP's 26.1% and 19.9%, with returns on assets of 20.1% against 10.4%. The market prices the stronger economics at the LOWER multiple, 20 times against 23.3, and SAP still returns more cash, a 5.5% free-cash yield against 3.4%. Advertising concentration and AI capex anxiety are what a three-turn discount on better numbers looks like. The pair is a quiet referendum on which risk the market fears more: one revenue line, or one product transition.
Comparison updated 2026-07-10.
| Metric | META | SAP |
|---|---|---|
| Price | $549.92 | $155.23 |
| Market cap | $1.41T | $181.0B |
| Sector | Software | Software |
| Stage | Mature | Mature |
| P/E | 20.0 | 23.3 |
| P/B | 5.79 | 3.69 |
| P/S | 6.56 | 4.52 |
| EV/EBITDA | 13.2 | 16.5 |
| Revenue growth | +26.2% | +8.1% |
| Gross margin | — | 72.9% |
| Operating margin | 40.6% | 26.1% |
| Net margin | 36.9% | 19.9% |
| Return on equity | 32.6% | 16.3% |
| Return on assets | 20.1% | 10.4% |
| Return on invested capital | 23.1% | 15.2% |
| FCF yield | 3.4% | 5.5% |
| Dividend yield | 0.4% | — |
| Debt / equity | 0.24 | 0.00 |
| Current ratio | 2.35 | 1.16 |
| Altman Z (solvency) | 7.02 | 5.92 |
| Piotroski F (quality) | 7 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.